China cash injection fails to soothe markets (via AFP)
A rise in China's interbank interest rates on Friday showed that markets remain uneasy despite a cash injection by China's central bank, said dealers. The rates, which serve as the funding costs for pricing and investment, have been trending higher…
Shanghai Interbank Offered Rate Historic Trends via SHIBOR.org
China SHIBORs and repo rates also spiked in June (China's PBoC Finally Adds Liquidity to Banking System After SHIBOR and Repo Rates Spike (Charts)).
The PBoC (Chinese government) is trying to deflate China's debt bubble slowly to prevent a hard landing.